Principles for Businesses
The FCA's Principles for Businesses apply to all financial services firms in the UK regulatory system. Dual-regulated firms will need to be mindful of the Prudential Regulation Authority's Fundamental Rules.Whether a firm is solo or dual-regulated, the FCA's Principles for Businesses encompass the main dimensions of the conduct standards set out for all firms.
Our Principles for Businesses Course explains the FCA's Principles for Businesses that apply to financial services firms in the UK.
- 20 Minutes
- All staff
- Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.
- FCA Compliance Library
Learning objectives
- Recognise the purpose of the Principles for Businesses
- Know the Principles for Businesses and how they apply to different types of clients
- Appreciate the consequences of breaching the Principles
What can you expect your employees to learn?
Welcome
What are Principles for Businesses?
- Fundamental Rules
- Different objectives
Why are the Principles for Businesses growing in importance?
What do the Principles mean?
- Exercise: Principles for Businesses
Putting the Principles into practice
- Principle 1: Integrity
- Principle 2: Skill, care & diligence
- Principle 3: Management & control
- Principle 4: Financial prudence
- Principle 5: Market Conduct
- Principle 6: Customers' interests
- Principle 7: Communications with clients
- Principle 8: Conflicts of interest
- Principle 9: Customers: relationships of trust
- Principle 10: Clients' assets
- Principle 11: Relations & regulators
- Principle 12: Consumer Duty
Outcome-focused regulation
Comparing the Principles with the Conduct Rules
Consequences of breaching the Principles
Summary
Affirmation
Assessment
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